Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v3.21.1
Long-Term Debt (Tables)
3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]  
Schedule of Debt Instruments Senior Secured Note
Based on the then existing market conditions, we completed repurchases of our 6.75% Senior Secured Notes at amounts less than face value as follows:

 
Date
  
Principal Repurchased
 
  
Cash Paid
 
  
% of Face Value
 
 
Bond Issue Costs
 
  
Net Gain
 
 
  
(Dollars in thousands)
 
January 30, 2020
   $ 2,250      $ 2,194        97.50   $ 34      $ 22  
January 27, 2020
     1,245        1,198        96.25     20        27  
December 27, 2019
     3,090        2,874        93.00     48        167  
November 27, 2019
     5,183        4,548        87.75     82        553  
November 15, 2019
     3,791        3,206        84.58     61        524  
March 28, 2019
     2,000        1,830        91.50     37        134  
March 28, 2019
     2,300        2,125        92.38     42        133  
February 20, 2019
     125        114        91.25     2        9  
February 19, 2019
     350        319        91.25     7        24  
February 12, 2019
     1,325        1,209        91.25     25        91  
January 10, 2019
     570        526        92.25     9        35  
December 21, 2018
     2,000        1,835        91.75     38        127  
December 21, 2018
     1,850        1,702        92.00     35        113  
December 21, 2018
     1,080        999        92.50     21        60  
November 17, 2018
     1,500        1,357        90.50     29        114  
May 4, 2018
     4,000        3,770        94.25     86        144  
April 10, 2018
     4,000        3,850        96.25     87        63  
April 9, 2018
     2,000        1,930        96.50     43        27  
    
 
 
    
 
 
            
 
 
    
 
 
 
     $ 38,659     
$
35,586              $ 706     
$
2,367  
    
 
 
    
 
 
            
 
 
    
 
 
 
Long-Term Debt
Long-term debt consisted of the following:
 
     As of
December 31, 2020
    
As of

March 31, 2021
 
    
(Dollars in thousands)
 
6.75% Senior Secured Notes
   $ 216,341     
$
216,341
 
Less unamortized debt issuance costs based on imputed interest rate of 7.08%
     (2,577   
 
(2,393
    
 
 
    
 
 
 
6.75% Senior Secured Notes net carrying value
     213,764     
 
213,948
 
Asset-Based Revolving Credit Facility principal outstanding
     5,000        —    
SBA Paycheck Protection Plan loans
     —       
 
11,195
 
    
 
 
    
 
 
 
Long-term debt less unamortized debt issuance costs
   $ 218,764     
$
225,143
 
    
 
 
    
 
 
 
Less current portion
     (5,000      —    
    
 
 
    
 
 
 
Long-term debt less unamortized debt issuance costs, net of current portion
   $ 213,764     
$
225,143
 
    
 
 
    
 
 
 
Principle Repayment Requirements Under Long Term Agreements Outstanding
Principal repayment requirements under all long-term debt agreements outstanding at March 31, 2021 for each of the next five years and thereafter are as follows:
For the Year Ended March 31,
 
 
  
Amount
 
 
  
(Dollars in thousands)
 
2022
   $ —    
2023
     —    
2024
     216,341  
2025
     —    
2026
     11,195  
Thereafter
     —    
    
 
 
 
     $ 227,536